Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Before we bash the FM any further, atleast wait for something official or some details from a reliable news agency.
Any way here are unofficial details:
https://dunyanews.tv/en/Business/486720-Bailout-Package-IMF-sets-tough-conditions-for-Pakistan-
@Nilgiri @VCheng @ziaulislam
Apart from the removal of tax break on salaries from rs 1.2mil to rs 400k ... I dont see anything tough or anything bad that shouldnt be done anhway to reform our economy? Maybe the 1% increase in GST?
Here are some main points reported so far (still unofficial)
1) State Bank authority of decisions regarding dollar rate and make National Electric Power Regulatory Authority (NEPRA), Oil and Gas Regulatory Authority (OGRA) independent.
I think on the book this means govt wont be able to control rates directly. Now off the book how “independent” an institution can really get in Pakistan? I still think this is a needed reform in the long run as it will remove poltical interference and help us balance losses. I am interested to kmow how we can make them independent but at least give the govt options to mediate in prices and rates to a certain extent if needed.
2) the target of tax should be fixed at Rs5000 billion.
This wil be tough only if we fail to broaden our tax base. Maybe temporarily until we broaden tax base and add new taxpayers - i mean a population of 200 million with ~2milion taxpayers is just shameful.
3) The Fund further demanded to decrease electricity and gas losses. Government should not interfere in the decisions of National Electric Power Regulatory Authority (NEPRA) and Oil and Gas Regulatory Authority (OGRA). As many as Rs140billion outstanding of the electricity and gas should be recovered from masses.
No $#it - we should all pay our bills and govt should remove losses and collect outstanding bills. This latharginess of not collecting bills and holding offenders responsible has to end some day I guess!!
4) The tax relaxation should be brought down to Rs400,000 from Rs1.2 million.
This I think is a tough condition as it will hit the middle class salaried households.
@BHarwana question specially for you: So i guess we are now going for IMF bailout or you have still have some twist to report?
Pakistan has some tough times ahead but its better to get through this bitter pill now. Greeks had to go through some serious austerity measures so what Pakistan has to do is not unprecedented. The powers that be will squeeze us from all directions but its the collective fault of the past governments that we are at this point.
Agreed but he hasn't even finished the first year in office and people are already baying for blood! What has been broken down over the past 10-15 years will need more time to restructure and then to turn the economy around.Blaming the past can work as an excuse only for so long. It is time in the present for PMIK to deliver on his promises through the rest of his term if there is to be a better future.
Agreed but he hasn't even finished the first year in office and people are already baying for blood! What has been broken down over the past 10-15 years will need more time to restructure and then to turn the economy around.
you can make soap as a science experimentPakistanis don't even buy their own soap...how hard is it to make soap? What quality issue is in soap? Pakistan needs to get its hand out of its hairy butt and say we will eat grass but we will build a account surplus.
you can make soap as a science experiment
Lower class and rural Pakistani's can produce their own soaps at home (actually not that hard). The problem is the urban bourgeois that prefer western name brands.The thing is YOU can but they CAN'T
Lower class and rural Pakistani's can produce their own soaps at home (actually not that hard). The problem is the urban bourgeois that prefer western name brands.
lye + water + oil/fat = soap
My Grandmother use to make soap at home. The lye may have been imported.. don't know the specifics....I was just a kid.
My wife loves Dove and Pantene, (she is solidly the new urban bourgeois). I can't get her to stop buying western brands.....What a difference two generations makes.
well problem is elite of pakistan..the elite that doesn't work and is corruptPakistanis don't even buy their own soap...how hard is it to make soap? What quality issue is in soap? Pakistan needs to get its hand out of its hairy butt and say we will eat grass but we will build a account surplus.
problem is govt failure to levy direct taxes..Lower class and rural Pakistani's can produce their own soaps at home (actually not that hard). The problem is the urban bourgeois that prefer western name brands.
lye + water + oil/fat = soap
My Grandmother use to make soap at home. The lye may have been imported.. don't know the specifics....I was just a kid.
My wife loves Dove and Pantene, (she is solidly the new urban bourgeois). I can't get her to stop buying western brands.....What a difference two generations makes.